Under the influence of the increasingly severe pandemic, the epidemic prevention policy in domestic ports was strict, while the unloading capacity of terminals was restricted and the efficiency of cargo handling was reduced. Among them, the recent transportation of raw materials and finished products of a steel mill in East China was blocked, thus causing a shortage of raw materials for production, which may have a certain impact on the subsequent stainless steel production of the mill. It is expected that 300# stainless steel reduced by 20,000-30,000 mt under the impact, affecting the primary nickel consumption by 1,500-2,500 mt in Ni content and ferrochrome consumption by 3,600-5,400 mt.
Market: Under the impact of nickel prices, high-grade NPI prices fluctuated significantly, but remained high overall. The upstream and downstream could not agree on the intention price, led to light transactions. But in the support of tight supply and high costs, ferronickel prices were unlikely to fall.
Ferrochrome: The recent rise in coke and chrome ore prices drove up the costs of ferrochrome, while iron plants stood firm to the prices. It was difficult to find low-priced sources in the market, and the downstream was relatively cautious about stocking with weak transactions. During the same period, under the impact of high contract prices and rising costs, the spot prices of stainless steel had a upward trend, but market transactions were weak due to the pandemic.
